> Anyone with deposits in an accredited bank should be made whole - always

Sure, but is that the case now? Is everyone made whole when a bank fails and they have more deposits than the insurance limits? Or only when it's the well-connected / too-big-to-fail?

Looks like the answer is no: https://www.wsj.com/finance/banking/a-small-banks-failure-le...

So I don't think it's unreasonable to describe SVB as a bailout. Not for the investors, but for the depositors. Has anything changed to reduce the moral hazard / make it less likely to recur?